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KOLKATA: Early business data from lenders, published ahead of the month-long earnings season starting next week, showed that Indian companies are on track to report yet another quarter of robust performance amid buoyant consumer demand, although rising cost of funds might crimp profitability for financiers as the pace of...
NEW DELHI: Expectations are muted over big big-ticket announcements or high-budget schemes being announced in the interim Budget on February 1, but the run-up to the Parliament elections could still feature some such. FE has reviewed the schemes and government programmes rolled out in FY24 budget, and found that...
NEW DELHI: India is likely to project higher economic growth estimates of around 7% for the 2023/24 fiscal year ending in March, compared with earlier government forecasts when the National Statistical Office releases its first advance GDP estimates on Friday. An increased estimate of annual gross domestic product is...
Economic growth is set to be a driving force in the Asia-Pacific (APAC) region in 2024, particularly in emerging markets (EMs), providing a favourable backdrop for various sectors, reported Fitch Ratings. According to Fitch Ratings, while strong real GDP expansion is anticipated in India, Indonesia, the Philippines, and Vietnam,...
NEW DELHI: Cooperation Minister Amit Shah on Thursday inaugurated a tur dal procurement portal through which farmers can register and sell their produce to NAFED and NCCF at a minimum support price or market price. A similar facility will be launched in future for urad and masoor farmers as...
NEW DELHI: NHPC has inked an initial pact to invest Rs 4,000 crore in 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur in Gujarat. Taking a step towards clean and green energy, NHPC signed a Memorandum of Understanding (MoU) with Gujarat Power Corporation (GPCL) for investment in...
NEW DELHI: The government will focus on the existing PLI schemes for 14 sectors and for the time being is not considering to include new sectors like toys in the programme, a top official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT)...
NEW DELHI: The Supreme Court on Wednesday refused to order inquiries into Adani Group by a special investigation team (SIT) or the Central Bureau of Investigation (CBI) — a major relief to the business house — over US short-seller Hindenburg Research’s allegations of fraud, misgovernance and stock price manipulation....
NEW DELHI: India’s manufacturing activity declined to its lowest level in 18 months in December, pulled down by weaker increase in factory orders and output, according to a private survey released Wednesday. The HSBC India purchasing managers’ index of manufacturing eased further to 54.9 in December compared with 56...
NEW DELHI: The economic growth in Asia Pacific will remain strong in 2024 and GDP is expected to grow by about 5 per cent in India and a host of emerging market countries, Fitch Ratings said on Wednesday. In its report titled ‘APAC Cross-Sector Outlook 2024′, Fitch said the...
NEW DELHI: India’s merchandise exports this financial year will touch last year’s levels despite shipments contracting 6.5% year-on-year in the first eight months and slowdown in global trade, Commerce and Industry Minister Piyush Goyal said Wednesday. “Globally growth has been negative, international trade is in the negative territory, estimates...
NEW DELHI: The Union government’s total expenditure on explicit subsidies – food, fertiliser and LPG – is likely to drop 28% to Rs 3.98 trillion in the current fiscal year, from Rs 5.49 trillion in FY23. This is due to the softening of global prices of soil nutrients and...
NEW DELHI: The Centre on Wednesday cancelled the disinvestment plans of the Salem Steel Plant, the stainless steel making unit of the Steel Authority of India Ltd (SAIL), citing lack of interest from bidders. According to a statement from the Ministry of Finance, multiple EoIs had been received and...
CHENNAI: Steel giant ArcelorMittal has partnered with the Indian Institute of Technology, Madras to build “Asia’s first” Hyperloop test track facility here, the company said here on Wednesday. The companies, ArcelorMittal and ArcelorMittal Nippon Steel India (AM/NS), are providing foundational steel materials as well as engineering, design, and project...
US bankruptcy filings surged by 18 per cent in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops, data published Wednesday showed, although insolvency case volumes remain well below the level seen before the outbreak of Covid-19. Total bankruptcy filings...
NEW DELHI: The Food Corporation of India (FCI) has allayed fears of any problems due to lower wheat procurement this year and expressed confidence in buying a quantity more than the annual requirement under all welfare schemes. Briefing the media on the achievement of FCI since its inception in...
NEW DELHI: Retirement fund manager EPFO has extended the deadline till May 31 for employers to upload wage details of those opting for higher pension to its database. Earlier, the deadline for employers to upload wage details for those opting for higher pension on higher contribution was December 31,...
MUMBAI: The Reserve Bank of India (RBI) on Tuesday proposed to tighten norms for dividend declaration by banks as it lowered the net non-performing asset (NPA) ratio for a lender to be eligible for paying dividends. In a draft circular released on Tuesday, the RBI said it would not...